ITW reported Automotive OEM revenue, including fasteners, fell 13.7% to $696 million in the first quarter of 2020.  Segment organic revenue dropped 13% in North America, 9% in Europe and 21% in China.

Automotive OEM operating income totaled $145 million, while operating margin rose 30 basis points to 20.9% in Q1.

Construction Products revenue, including fasteners, dropped 2.6% to $390 million in Q1.  Organic revenue increased 9% in North America but declined 6% in Europe and Australia / New Zealand.

Construction Products operating income totaled $91 million, with operating margin up 170 basis points to 23.4%.

Overall ITW revenue dropped 9.1% to $3.2 billion, with organic revenue down 6.6% and operating margin flat at 23.6%.

“Although some facilities are subject to mandatory shutdowns, approximately 95% of global manufacturing capacity is currently available,” the company stated in its investor presentation.

ITW said it expects second-quarter revenue to decline 30-40%, with Automotive OEM revenue down 60-70%.  Web: ITW.com